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View Diary: Is There Another Solution to the Tax Cut Dilemma? (3 comments)

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  •  A better compromise (3+ / 0-)
    Recommended by:
    mwm341, Misterpuff, cyeko

    Let the Wealthy have the continuation of the Bush tax cuts, but

    Most of the Wealth pay their taxes under the AMT (the alternative minimum tax). There are two tax codes - the ordinary one and then the AMT code.  The taxpayer pays the one with the higher tax due.  So if you lower the ordinary code taxes without also lowering the AMT, those who paid under AMT still pay taxes at the AMT rate and the lower ordinary tax rates mean nothing.

    Then put in a more modest adjustment to AMT for 2011, and also end the ability for carried interest to be taxed at capital gains rates.

    In regards to tax collections, this would be about the same as letting the Bush tax cuts expire for the rich.

    The most important way to protect the environment is not to have more than one child.

    by nextstep on Mon Dec 06, 2010 at 12:32:18 PM PST

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